Specialist sector tops FundsNetwork sales in April

Specialist sector sales went up by 40% in April on the Fidelity FundsNetwork platform despite only tw...

Specialist sector sales went up by 40% in April on the Fidelity FundsNetwork platform despite only two funds from the group appearing in the top 10 best selling funds.

Since March, inflows into Specialist funds made it the most popular sector, followed by UK Equity Income, up 27% on the previous month and UK All Companies also up 27%.

However the UK Other Bond sector also saw sales soar by 38% and the Active Managed sector had 31% more interest.

Out of the 10 top-selling funds, only JPM Natural Resources and Allianz RCM BRIC Stars are included in the Specialist sector.

Invesco Perpetual High Income was the best-selling fund, despite a period of underperformance by manager Neil Woodford and BlackRock’s UK Absolute Alpha was the second most popular choice.

Invesco also had Income, Monthly Income and Corporate Bond in the top 10.

Jupiter Merlin Income, Fidelity’s Cash fund and M&G Recovery were also popular in April.